Strathcona Resources Ltd. Announces First Steam at Meota Central and Provides Update on Lloydminster Thermal Business

About this update from Strathcona Resources Ltd.

CALGARY, AB, July 8, 2026 /CNW/ - Strathcona Resources Ltd. ("Strathcona" or the "Company") (TSX: SCR) today announced it successfully achieved first steam at its Meota Central project on June 6, 2026. Construction of Meota Central is now complete, with first oil expected late in the third quarter of 2026. Construction at Meota Central was completed at a total installed cost of approximately $345 million (3% under budget) over the course of 18 months (2 months, or 9% ahead of budget). The project was completed safely, with zero lost time incidents during approximately 370,000 man-hours of work during construction. Meota Central is targeting a peak oil rate of approximately 13,000 bbls / d by mid-2027, exploiting a high-quality Waseca reservoir with a proved plus probable reserves life index of approximately 30 years at nameplate capacity. Meota Central represents an important milestone in Strathcona's long-term plan to grow total corporate production from approximately 125 Mbbls / d in 2026 to 300 Mbbls / d by 2035 (a 10% compound annual growth rate). Strathcona will be hosting analysts and investors for a field tour of Meota Central and its Hamlin Rail Terminal on July 9, 2026. A presentation providing more details on Strathcona's Lloydminster Thermal business will be shared during this field tour, which has been posted on Strathcona's website and which Strathcona shareholders are encouraged to review. About Strathcona Strathcona is one of North America's fastest growing pure play heavy oil producers with operations focused on thermal oil and enhanced oil recovery. Strathcona is built on an innovative approach to growth achieved through the consolidation and development of long-life assets. Strathcona's common shares (symbol SCR) are listed on the Toronto Stock Exchange (TSX). For more information about Strathcona, visit www.strathconaresources.com. Advisories Certain statements contained in this press release constitute forward-looking information within the meaning of applicable securities laws. The forward-looking information in this press release is based on Strathcona's current internal expectations, estimates, projections, assumptions and beliefs. Such forward-looking information is not a guarantee of future performance and involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially...

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